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Forum: Ottawa 2019-08-22, 06:10 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
First Time Time Home Buyers Incentiove Program

So you are correct on the qualifying income, it is max combined family income of $120,000(NO exceptions). Also limited to a mortgage no more than 4 times your salary.
The Government of Canada will...
Forum: Ottawa 2019-08-19, 12:06 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
WOW, drop in 5 yr fixed mortgage rates...

5 yr fixed, Insured(less than 20% down payment), closing within 90 days
NOW 2.39%
5 yr fixed, Insurable(more than 20% down payment), closing within 90 days
NOW 2.49%
We are now almost back to...
Forum: Ottawa 2019-08-19, 11:33 AM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Lenders... my experience

I have been a licensed mortgage broker since 1989, so for over 30 years now... I actually started in 1984 when I walked out of college but wasn't a licensed broker at that time.
I have dealt with...
Forum: Markham / Thornhill / Vaughan 2019-07-31, 12:27 PM
Replies: 235
Views: 37,852
Posted By MortgageGuy
JUly 31st mortgage rate update, stress test rate update

Best 5 yr fixed is now 2.64% 90 day rate (insured)
2.74% 5 yr fixed for 120 day rate(insured)
2.89% 5 yr fixed for a refinance
Best 5 yr fixed 2.84% 120 day rate, insurable (purchase with 20%...
Forum: Ottawa 2019-07-31, 12:26 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
JUly 31st mortgage rate update, stress test rate update

Best 5 yr fixed is now 2.64% 90 day rate (insured)
2.74% 5 yr fixed for 120 day rate(insured)
2.89% 5 yr fixed for a refinance
Best 5 yr fixed 2.84% 120 day rate, insurable (purchase with 20%...
Forum: Markham / Thornhill / Vaughan 2019-07-08, 04:38 PM
Replies: 235
Views: 37,852
Posted By MortgageGuy
July8th Rate Update and First Time Buyer program

So mortgage rates have been holding steady for now...
Best 5 yr fixed 2.69% 120 day rate! ItÂ’s nice getting back below 3% again on the 5 yr money.
Best 5 yr closed variable is Prime -1.10% or...
Forum: Ottawa 2019-07-08, 04:35 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Mortgage Rate Update, July 8 and First Time Buyer Program

So mortgage rates have been holding steady for now...
Best 5 yr fixed 2.69% 120 day rate! ItÂ’s nice getting back below 3% again on the 5 yr money.
Best 5 yr closed variable is Prime -1.10% or...
Forum: Markham / Thornhill / Vaughan 2019-06-11, 04:48 PM
Replies: 235
Views: 37,852
Posted By MortgageGuy
WOW 7yr and 10yr rates are down

With all the hype around 5 yr rates, I was excited to see the 7 and 10 yr rates fall recently. They hadn't moved in awhile, and finally have dropped.
7 yr fixed, 3.14% insured OR for more than 35%...
Forum: Ottawa 2019-06-11, 04:46 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
WOW 7yr and 10yr rates are down

With all the hype around 5 yr rates, I was excited to see the 7 and 10 yr rates fall recently. They hadn't moved in awhile, and finally have dropped.
7 yr fixed, 3.14% insured OR for more than 35%...
Forum: Markham / Thornhill / Vaughan 2019-06-07, 02:58 PM
Replies: 235
Views: 37,852
Posted By MortgageGuy
4yr term over 5yr

"Originally Posted by jeeva86
for uninsured, i believe scotia is offering 2.79/4yr fixed, several ppl have reported getting that"

I have heard of these 4 yr promotional rates as well. But...
Forum: Ottawa 2019-06-07, 02:56 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
4 yr compared to 5 yr fixed...

I have heard of these 4 yr promotional rates as well. But personally I expect rates will be higher 4 yrs from now, so I would be far more inclined to take a 5 yr fixed rate over a 4 yr as the rate...
Forum: Ottawa 2019-06-07, 02:49 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
2nd mortgages

2nd mortgages are not usually offered by the "banks", usually only secured L/C registered behind another banks 1st mortgage, or even with the same mortgage company you already have.
Usually better...
Forum: Ottawa 2019-06-04, 04:46 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
cash back and incentives and Scotia again...

Just a reminder, I always recommend NOT taking cash back and incentives, RATHER try and see if you don't accept the perks would they give you a slightly better rate.
The reason they offer perks like...
Forum: Ottawa 2019-06-04, 03:37 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
rates

2.99% on conventional at Scotia...
Forum: Markham / Thornhill / Vaughan 2019-06-04, 10:49 AM
Replies: 235
Views: 37,852
Posted By MortgageGuy
Rate update June 4th

Scotia just dropped 5 yr fixed to 2.89% for me as a promo, must nbe insured, less than 20% down payment, or for an insured switch(mortgage up for renewal).
Dan :)
Forum: Ottawa 2019-06-04, 10:46 AM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
maybe that was clearer, thank you :) and rate update..

Scotia just came out with 5 yr fixed for me on a promo at 2.89% for an insured mortgage(purchase or transfer)
Lets keep them coming down,
Dan :)
Forum: Ottawa 2019-05-31, 07:40 AM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
mis understanding... I think

Just making sure you understand. Bridge financing has nothing to do with this market. Bridge financing is used when you HAVE SOLD your home unconditionally and simply the CLOSING date of your...
Forum: Ottawa 2019-05-30, 10:02 AM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Delayed responses... Constance Bay flooding...

AS A SIDE NOTE, IT IS A BUSY TIME, especially since I have been working from my cottage in Constance Bay, manning the pumps that are holding back the Ottawa River. I have been here since April 24th,...
Forum: Markham / Thornhill / Vaughan 2019-05-30, 09:47 AM
Replies: 235
Views: 37,852
Posted By MortgageGuy
Bank of Canada Rate set, rates as of May 30th...

So yesterday, the Bank of Canada announced no change in rates... good news for everyone..
https://www.ctvnews.ca/business/not-...nged-1.4441763
Current rates...
Similar mortgage rates to last...
Forum: Ottawa 2019-05-30, 09:46 AM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Bank of Canada Rate set, rates as of May 30th...

So yesterday, the Bank of Canada announced no change in rates... good news for everyone..
https://www.ctvnews.ca/business/not-too-late-to-renew-your-mortgage-key-interest-rate-unchanged-1.4441763...
Forum: Ottawa 2019-05-30, 09:32 AM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Lender Issues

Good Morning Equistrian Girl,
VERY sorry about the delay in being on site...
Equitable is a good lender with no restrictive clauses... BUT they have one MAJOR shortfall, they do not provide bridge...
Forum: Ottawa 2019-04-24, 12:53 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Mortgage Rate update...April 24th

So good news today that the Bank of Canada Rate will remain unchanged with negative economic news that should keep the rate where it is for at least the next little while....
Forum: Markham / Thornhill / Vaughan 2019-04-15, 04:22 PM
Replies: 235
Views: 37,852
Posted By MortgageGuy
Mortgage Rate update...April 15th

5 yr fixed rate has dropped to
2.99% insured or up to 65% LTV(purchase or transfer), 120 day rate
3.04% up to 80%LTV(purchase or transfer), 120 day rate

7 yr fixed rate
3.49% insured or up 65%...
Forum: Ottawa 2019-04-15, 04:18 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
Mortgage Rate update...April 15th

5 yr fixed rate has dropped to
2.99% insured or up to 65% LTV(purchase or transfer), 120 day rate
3.04% up to 80%LTV(purchase or transfer), 120 day rate

7 yr fixed rate
3.49% insured or up 65%...
Forum: Ottawa 2019-04-10, 03:36 PM
Replies: 1,372
Views: 356,101
Posted By MortgageGuy
collateral....

So has anyone found out with the HSBC promo 5 yr rate if they register as a collateral only, or is that a choice(stupid comment because you should never want a collateral charge). And the promo rate...
Showing results 1 to 25 of 500

 
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